Real Estate Math
A property in NC has a tax value of $225,000. The county tax rate is $0.62 per $100 of assessed value. What is the annual property tax?
A$1,395✓ Correct
B$1,240
C$1,462
D$2,250
Explanation
Annual tax = (Tax value / $100) × Rate = ($225,000 / $100) × $0.62 = 2,250 × $0.
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